PR8-3A Week 3 - d A check for $4,315 returned with the statement had been incorrectly recorded by Bonita Medical Co as $3,415 The check was for the

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PR8-2A The cash account for Bonita Medical Co. at September 30, 2008, indicated a balance of $5,335.30. The bank statement indicated a balance of $5,604.60 on September 30, 2008. Comparing the bank statement and the accompanying canceled checks and memoranda with the records revealed the following reconciling items: a. Checks outstanding totaled $4,790.45. b. A deposit of $9,226.15, representing receipts of September 30, had been made too late to appear on the bank statement. c. The bank had collected $7,725 on a note left for collection. The face of the note was $7,500.
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Unformatted text preview: d. A check for $4,315 returned with the statement had been incorrectly recorded by Bonita Medical Co. as $3,415. The check was for the payment of an obligation to Rowe Co. for the purchase of office equipment on account. e. A check drawn for $230 had been erroneously charged by the bank as $2,300. f. Bank service charges for September amounted to $50. Instructions 1. Prepare a bank reconciliation. 2. Journalize the necessary entries. The accounts have not been closed. Need help with Journal entries....
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This note was uploaded on 04/24/2010 for the course ACCOUNTING 571 taught by Professor Ivan during the Spring '10 term at UMBC.

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